Retail

China's retail index on 8-mth high at 50.3% in Aug 2023

14 Aug '23

1 min read

Pic: Shutterstock/QinJin

Insights

China's retail performance index rose to 50.3 per cent in August 2023, as per the China General Chamber of Commerce.
The country's current index score was up 0.2 percentage points from July 2023, which makes it the eighth month of growth.
The positive outlook concerning China's retail is linked to pro-growth policies enacted by the government.

China’s retail performance index rose to 50.3 per cent in August 2023, which is a 0.2 percentage point increase from July. This marks the eighth consecutive month in the expansion zone with a reading above 50 signalling growth, as per the China General Chamber of Commerce.

The Chamber cited this upward trend as evidence of the Chinese economy’s resilience, according to local media reports.

The positive outlook was attributed to a series of pro-growth policy measures implemented by the country.

Retail sales of China’s consumer goods registered a growth of 8.5 per cent on a YoY basis in the first four months of 2023, data from the National Bureau of Statistics showed.

Fibre2Fashion News Desk (NB)

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